HomeCoinsBitcoinGlassnode: Since February 2020, BTC worth $38 billion has been withdrawn from...

Glassnode: Since February 2020, BTC worth $38 billion has been withdrawn from exchanges

-

Bitcoin-castodial

The analytical company stated that since the beginning of 2020, the supply of BTC on exchanges has been constantly decreasing, that is, users are rapidly withdrawing the asset

According to the company, 617,000 BTC were withdrawn from exchanges within 20 months, which is equivalent to $37.97 billion. The BTC balance on the exchanges decreased from 3.09 million BTC (about $190 billion) as of February 2020 to 2.47 million BTC (about $152 billion) as of October 2021. In less than two years, the volumes on the sites have decreased by 20%.

“The BTC balance on the exchanges continues to decline and has reached 2.47 million BTC, which has not been observed since August 2018. Since February 2020, the average monthly outflow is 30,850 BTC per month,” the company reports

Separately, attention is paid to such an indicator as the change in the net position of BTC on exchanges, which tracks the 30-day change in the volume of BTC in the wallets of cryptocurrency exchanges. According to , during 2021, the outflow of funds was steady (with the exception of May, June and July):

“The current outflow is about 22,000 BTC ($1.35 billion) per month, or 71% of the average since February 2020”

Another important indicator is the volume of assets held by long-term holders (they hold BTC without movement for at least 5 months). According to , over the past 7 months, a group of investors has accumulated an asset worth a huge $149 billion:

“During the unusual accumulation period since March, long-term holders have increased the reserves in their wallets by 2.42 million BTC”

crypto360.us – always the latest news and market overview

See also  Kraken: Litecoin has a chance to repeat the bullish cycle of 2017

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

What is a Cryptocurrency? Crypto Explained for Beginners

What is a cryptocurrency? A cryptocurrency is a digital representation of something valuable, such as money, that only exists online. Cryptocurrencies use cryptography to verify...

The Crypto Market is BROKEN 💥 (Bitcoin, Ethereum, Solana, & Binance News)

https://www.youtube.com/embed/7P0D9_oDpIA all right welcome back everybody to altcoin daily my name's austin the cryptocurrency market continues to...

BEST 7 ALTCOINS! BIG PRICE MOVES COMING! THINGS HAVE CHANGED! | CRYPTOCURRENCY NEWS

https://www.youtube.com/embed/CF628ExY1a0 welcome back everybody to altcoin daily my name is  aaron there is fantastic opportunity in altcoins   right now in...

Is digital currency dead?

https://www.youtube.com/embed/N58uDTGsmKo associate editor darren fonda wrote the story and he joins us now daryn thanks for coming...

Follow us

4,324FansLike
534FollowersFollow
345FollowersFollow
345FollowersFollow
575FollowersFollow
445SubscribersSubscribe

Most Popular